Potbelly (PBPB) Reports In-Line Q1 EPS, Guides FY EPS Below Views

Potbelly (NASDAQ: PBPB) reported Q1 EPS of $0.05, in-line with the analyst estimate of $0.05. Revenue for the quarter came in at $101.7 million versus the consensus estimate of $103.36 million.

Company-operated comparable store sales decreased 3.1%.

GUIDANCE:

Potbelly sees FY2017 EPS of $0.35-$0.38, versus the consensus of $0.47.

• 45-60 total new shop openings, including 30-40 company-operated shop openings;
• A low single digit decrease in company-operated comparable store sales;
• An effective tax rate to range from 36% to 38%, excluding the discrete tax benefit or detriment of FASB Accounting Standard, ASU 2016-09, which could significantly impact our tax rate for 2017;
• Adjusted net income in the range of $9.0 million to $10.0 million, and full year adjusted diluted earnings per share in the range of $0.35 to $0.38; and
• Comparable categories of adjustments to net income as discussed in the “Reconciliation of Non-GAAP Financial Measures to GAAP Financial Measures.”

For earnings history and earnings-related data on Potbelly (PBPB) click here.

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